recovery startup business
Defined in 1 place of the United States Code.
The term "recovery startup business" means any employer—
(A) which began carrying on any trade or business after February 15, 2020, and
(B) for which the average annual gross receipts of such employer (as determined under rules similar to the rules under section 448(c)(3)) for the 3-taxable-year period ending with the taxable year which precedes the calendar quarter for which the credit is determined under subsection (a) does not exceed $1,000,000.
Source
- 2021–present26 U.S.C. § 3134Internal Revenue Code · Employee retention credit for employers subject to closure due to COVID–19 · for purposes of this section